Credit Cards

In some cases it can be a great idea to cancel old and unused credit accounts. Especially the ones that are still charging you fees. But, before you just up and close your accounts, there are a few “dos” to consider. For instance… You should close the card that you aren’t using that is costing...

There’s a rumor floating around that you need to carry over a balance from month to month on your cards in order to build credit. That’s not true. If you want to build credit, you should aim to pay your credit card bill on time. The danger of carrying a balance month to month means...

Debt snowballing is a strategy used to pay off debts faster. If you’ve never heard of it, here’s how it works… You start off by paying small debts as quickly as possible. Focus your extra money on the smallest balance you owe. That way if you’re paying on 7 accounts every month, but can completely...

When you’ve accumulated debt across many credit cards and other debts, the repay strategy can feel a little daunting. You may feel like you’ll never get out from under debt. Even though it may feel a little hopeless at the time, with the right strategy in place you can actually conquer your debt once and...

If you’re ready to cancel a credit card, make sure you take the right steps so you avoid getting a hit to your credit score. That means carefully choosing the best time to cancel your credit card. Here are some tips for canceling a credit card: If you expect to apply for a large loan...

One easy way to establish credit is to get a retail card. It’s also a great way to build credit and enjoy the benefits of valuable perks. In some ways, credit card approval might be easier, although they’ll start you off with a small limit. They also typically do not have an annual fee. It could...

When getting your first credit card, most people have no idea how important it is to get it right. They should choose a credit card wisely so they can avoid high fees and interest rates. First, try to find cards that avoid annual fees because you want to keep fees to a minimum.  Also, look for...

All sorts of factors play a role in the amount of interest you pay on a credit card rate. One influential factor is the federal funds rate, which impacts a number of interest rate trends, including that of credit card APRs. Other factors that affect it include: The type of APR. Variable credit card APRs...

Are you wondering what the average credit card APR rate is? Do you wonder whether you’re in that “average” category or above? According to the Federal Reserve, the average credit card interest rate as a whole is 12.51 percent. But, APR changes significantly depending on the type of credit card you’re using. For example, the...

If you’re looking for a credit card with big rewards, go with the Citi Costco Anywhere Visa. It provides a wonderful 4% cash back on eligible gas for the first $7,000 per year and 2% cash back on Costco and Costco.com purchases with 1% cash back everywhere else. There is no annual fee, however you...